Lending company NextGear Capital Inc. — created through the merger of Manheim Automotive Financial Services and Dealer Services Corp. — announced today its expansion of operations into Canada. In addition to enhancing service levels for dealers, the floor plan company plans on expanding its field sales and service operations throughout Canada, officials shared. The company […] [Read More]

It was a busy year in the F&I office at Sonic Automotive dealerships, as the retailer increased revenue in the finance, insurance and other category by nearly 20 percent in 2012. Sonic closed the year by pushing up F&I revenue 18.4 percent year-over-year in the fourth quarter, pulling in $64.69 million. For the year, it […] [Read More]

RouteOne Canada recently announced it has completed integration with General Motors’ captive finance organization GM Financial, which may simplify the credit approval process for GM dealers. All GM dealers may now send credit applications electronically through the RouteOne Canada platform as well as manage the entire scope of the credit fulfillment process, the companies reported. […] [Read More]

Vendor Transparency Solutions, an Arizona-based compliance management company, and Michael Dougherty of Weltman, Weinberg & Reis, a large creditors’ rights law firm, are announcing the launch of a series of free Consumer Financial Protection Bureau compliance webinars. Organizers indicated the webinars, each covering different CFPB topics, will be made available to auto lending institutions and […] [Read More]

In developments that likely will affect many repossession agencies, lenders’ recovery departments and repo units coming down the lanes, the American Recovery Association and National Finance Adjusters merged into one trade association today. Officials explained the new trade association will move forward under the name of the American Recovery Association. As part of the comprehensive […] [Read More]

Chase Auto Finance appointed a new chief executive officer today, succeeding Marc Sheinbaum who has asked to pursue other opportunities. Moving into the role is Thasunda Brown Duckett who previously was part of Chase's consumer and community banking division. Duckett also served as national retail sales executive for Chase's Mortgage Banking division. [Read More]

NextGear Capital recently closed a $1.55 billion securitized bank facility. Led by the Bank of Tokyo-Mitsubishi, the company highlighted the two-year securitized facility provides flexibility and tremendous lending capacity through a large six bank syndicate. Executives noted the new bank facility complements the existing privately placed AAA-rated term bond financing that NextGear Capital has in […] [Read More]

In all my teachings, I have consistently placed great importance on a skip-tracer’s understanding of human nature, and how it applies to the subject’s daily activities. Using this knowledge to profile the skip allows the subject to be placed in one of the three types of skips categories, which is a profiling-process that I have […] [Read More]

AutoTrader Group announced Friday afternoon that it has purchased Automotive Information Systems, which the company called “the industry's leader in auto incentive integration.” Commenting on the deal, AutoTrader Group president and chief executive officer Chip Perry said:  “Incentives are complex and confusing.  It is hard for dealers and consumers to understand and use incentives for […] [Read More]

Inventory Finance company NextGear Capital, the result of the recent merger Manheim Automotive Financial Services and Dealer Services Corp., revealed late Thursday it has chosen a vice president of industry relations. Tapped for the position is Todd Croom, who previously held the position of VP of finance at Manheim. The company shared Croom will be […] [Read More]